TRPC Asia Pacific Roundtable on Payments and e-Commerce

Both electronic payments (e-payments) and mobile payments (m-payments) are growing rapidly across many parts of Asia Pacific and beginning to transform business prospects, extend financial access, and empower small and medium business trade.

While key drivers of the e-/m-payments industry such as smartphone penetration and internet usage are growing at an exponential level, most countries in Southeast Asia have yet to fully realise a robust e-commerce and e-/m- payments industry. According to a report by the Economist Intelligence Unit measuring e-Trade Readiness, Indonesia is the only country in Southeast Asia to be amongst those ranked in the top 20 globally.

This Roundtable examined trends in the expansion of e-payments in the region, as well as the impact the growth of the industry will have on economic development and financial inclusion. It will also look at the potential for greater payments regulatory harmonisation across the region so as to facilitate growth and benefits. The Roundtable also brought together a diverse group of stakeholders, including senior government officials, leading academics, relevant industry representative bodies, and private sector payments and e-commerce representatives.

Panel 1 : The Impact of digital payments and e-Commerce on economic development
The payment industry and e-Commerce landscape are rapidly changing, driven by technological change, social priorities and changing models of business. This offers tremendous potential for countries that have been lagging in technological development to leapfrog and leverage this for economic growth through trade expansion. The potential benefits to SMEs and marginalised populations are also significant in providing them with access to markets that have so far been out of reach.Speakers:

Panel 2 : Regulatory harmonisation around payments and e-Commerce
To date, payments regulations and structures are both national in nature and widely divergent across the region. In an age of e-commerce and regional, and global, integration, such divergence has been shown to be inhibiting trade commerce. Third party payments providers often find themselves being classified in entirely different licensing structures in different jurisdictions. And, one of the most affected groups are SMEs across the region looking at payment options to engage in cross-border trade.Speakers: